What does the median of the data measure? a. Outliers b. ...

[itsmyluck]

What does the median of the data measure?
 a. Outliers
 
  b. Spread
 
  c. Location
 
  d. Shape

Question 2

Suppose we have a 0-1 output for whether a bidder wins a contract in a bidding model (0=bidder does not win contract, and 1=bidder wins contract). From the mean of this output, what can we determine?
 a. the mean number of bidders
  b. the average winning bid
  c. the probability that the bidder will win the contract
  d. the standard deviation of the next highest competitor's bid
  e. none of these choices

[mjbamaung]

Answer to Question 1

c

Answer to Question 2

c

[itsmyluck]

Wow, this really help

[komodo7]

Thanks for the timely response, appreciate it